How Settlements for Big Truck Accidents Are Calculated

Truck accidents can be catastrophic, often leading to life-changing injuries, substantial financial burdens, and emotional trauma for victims and their families. For those who pursue legal action, understanding how truck accident settlements are calculated is an important part of navigating the process.

While every case is unique, there are common factors that determine the value of a settlement. Below we will explore those factors, explain how attorneys and insurance companies calculate settlement amounts, and highlight why working with an experienced truck accident lawyer at Morgan & Morgan can make the difference in securing fair compensation.

Why Truck Accident Cases Are Different

Truck accidents differ significantly from car accidents in terms of legal and financial complexities. Commercial trucks, because of their size and weight, tend to cause more severe injuries and property damage. Additionally, truck accidents often involve multiple parties, each with potential liability, and federal regulations add another layer of complexity to the claims process.

These factors make truck accident settlements more intricate and often higher than typical car accident settlements.

Key Factors in Calculating Truck Accident Settlements

Determining the value of a truck accident settlement involves several variables. Below are the primary factors that influence how settlements are calculated:

Medical Expenses

Medical costs are one of the most significant components of any truck accident settlement. These include:

• Emergency medical treatment immediately following the accident.
• Hospital stays, surgeries, and specialist consultations.
• Ongoing care such as physical therapy, rehabilitation, or counseling.
• Prescription medications and medical devices like wheelchairs or prosthetics.

In many cases, victims require long-term or even lifelong medical care. The projected costs of future medical treatments are also factored into the settlement amount.

Lost Income

Truck accident injuries often leave victims unable to work temporarily or, in severe cases, permanently. Settlements account for:

• Lost wages during recovery.
• Reduced earning capacity if the victim can no longer perform their previous job or work at all.
• Lost benefits, such as health insurance or retirement contributions tied to employment.

Calculating lost income involves examining pay stubs, tax returns, and employment records. Experts may also be brought in to estimate future losses based on the victim’s career trajectory.

Pain and Suffering

Pain and suffering refer to the physical and emotional distress caused by the accident and its aftermath. These damages are more subjective and include:

• Physical pain from injuries.
• Emotional trauma, including anxiety, depression, and PTSD.
• Loss of enjoyment of life if the victim can no longer participate in activities they once enjoyed.

Unlike economic damages, pain and suffering do not have a clear dollar value and are often calculated using methods such as the multiplier method or per diem method (discussed later).

Property Damage

In truck accidents, vehicles are often severely damaged or completely totaled. Settlements include compensation for:

• Repair costs.
• Replacement value for totaled vehicles.
• Damage to personal items in the vehicle.

Long-Term or Permanent Disabilities

If the truck accident results in a permanent disability, the settlement amount increases to reflect the victim’s lifelong challenges and expenses. This can include compensation for:

• Home modifications, such as wheelchair ramps or accessible bathrooms.
• Ongoing medical care or in-home assistance.
• Loss of independence or mobility.

Liability and Fault

Who is at fault in a truck accident plays a critical role in determining settlement value. Multiple parties may share liability, including:

• The truck driver (if they were speeding, distracted, or impaired).
• The trucking company (for inadequate training, maintenance, or oversight).
• Vehicle or parts manufacturers (if a defective part contributed to the crash).
• Cargo loaders (for improperly secured or overloaded cargo).

Each party’s degree of fault affects how much they contribute to the settlement. In some states, victims can still recover compensation even if they are partially at fault, though their settlement may be reduced proportionally.

Insurance Coverage

Commercial trucking companies are required to carry higher insurance limits than personal vehicle owners. These policies are designed to cover the significant damages that often result from truck accidents. However, the availability of insurance coverage may impact the settlement amount.

In some cases, the defendant’s assets may also be considered if insurance is insufficient to cover the damages.

Methods Used to Calculate Settlements

There are no universal formulas for calculating truck accident settlements, but attorneys and insurance adjusters often rely on standard methods to arrive at a fair amount.

The Multiplier Method

One common approach for calculating pain and suffering is the multiplier method. This involves:

• Adding up the total economic damages (medical expenses, lost income, property damage, etc.).
• Multiplying that total by a number (typically between 1.5 and 5) based on the severity of the victim’s injuries and their impact on quality of life.

For example, if economic damages total $100,000 and the multiplier is 3, the pain and suffering damages would be $300,000, making the total settlement $400,000.

The Per Diem Method

The per diem method assigns a daily dollar value to the victim’s pain and suffering and multiplies it by the number of days the victim has suffered since the accident.

For instance, if the per diem rate is $200 and the victim has been recovering for 300 days, the pain and suffering damages would total $60,000.

Expert Opinions

In truck accident cases, experts are often brought in to calculate damages. For example:

• Medical experts estimate future healthcare costs.
• Vocational experts assess lost earning capacity.
• Accident reconstruction specialists determine fault and causation.

These expert opinions carry significant weight in settlement negotiations and court proceedings.

How Morgan & Morgan Builds a Strong Case

Truck accident settlements aren’t just about numbers—they’re about building a compelling case to demonstrate the full extent of the victim’s losses. Here’s how our attorneys help maximize settlements:

1. Investigating the Accident

Truck accident attorneys conduct thorough investigations to uncover all contributing factors. This includes analyzing:

• Police reports and witness statements.
• Black box data from the truck.
• Maintenance records and driver logs.
• Surveillance or dashcam footage.

2. Proving Negligence

Attorneys gather evidence to prove that the defendant(s) acted negligently and that their actions directly caused the accident. This might involve showing that:

• The truck driver violated traffic laws or FMCSA regulations.
• The trucking company failed to properly maintain the vehicle.
• A manufacturer provided defective parts.

3. Documenting Losses

Attorneys work with the victim to compile comprehensive documentation of their economic and non-economic losses. This includes medical bills, employment records, and personal testimony about how the accident has affected their life.

4. Negotiating With Insurance Companies

Trucking companies and their insurers often attempt to minimize payouts by disputing liability or downplaying the victim’s injuries. Experienced attorneys negotiate aggressively to ensure their clients receive fair compensation.

Common Challenges in Truck Accident Settlements

Several challenges can arise during the settlement process, including:

Disputes Over Liability

With multiple parties potentially at fault, defendants may try to shift blame onto one another. This can complicate negotiations and delay settlements.

Lowball Settlement Offers

Insurance companies often start with low settlement offers, hoping victims will accept less than they deserve.

Underestimating Long-Term Costs

Without proper legal representation, victims may underestimate the future costs of their injuries, leading to inadequate settlements.

Complex Legal and Regulatory Issues

Truck accident cases often involve federal regulations, multiple insurance policies, and corporate defendants with legal teams dedicated to protecting their interests.

Why Should I Hire a Truck Accident Lawyer?

Truck accident victims who work with the experienced attorneys at Morgan & Morgan can fight to secure significantly higher settlements than those who go it alone. 

Truck accident settlements are calculated based on a wide range of factors, from medical expenses and lost income to pain and suffering and long-term impacts. While no two cases are alike, an experienced attorney at Morgan & Morgan can help victims navigate the legal process with confidence.

At Morgan & Morgan, we’re committed to fighting for the compensation truck accident victims deserve. With our extensive experience, vast resources, and proven track record, we’ll stand by your side every step of the way.

If you’ve been injured in a truck accident, don’t wait—contact us today for a free case evaluation. You don’t pay unless we win. Let us fight for you so you can focus on healing and rebuilding your life.